Alpha Circle Nsukka | Charts, Psychology & Market Discussions - Page 15

As a newbie trader try and be taking pictures and videos of yourself now while doing analysis so you can have throw backs when you're profitable in some years to come.

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@charlesthefirst - 4 months ago

Saw something yesterday that completely changed my bias on Gold.

As it stands, I'm leaning bullish for next week, especially if Hormuz is fully reopened. That said, we won't be jumping in blindly.

At the early hours of the market open, we'll stand down and observe price action closely. We'll only jump in if the market confirms the rally we're looking for.

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@charlesthefirst - 4 months ago

Heard some of you trade with prop firms, so let me share a cheat code with you.

Don't treat the account size as your capital treat your maximum drawdown as your actual trading capital. For example, if you have a $100k funded account with an $8k maximum drawdown, then that $8k is your real trading capital. Manage it like it's your own money.

For every trade, don't risk more than 5% of that $8k, which is $400. If you're taking a 1:10 R:R setup and it plays out, that's a $4,000 gain, half of what's typically required to pass many Phase 1 evaluations.

If you take 2 losses in a row, cut your risk from $400 to $200. One quality winning trade can recover those losses and still leave you in profit. After that, you can consider returning to your normal risk of $400.

If the losing streak continues, reduce your risk again, from $200 to $100 and stay there until you've put together a couple of solid winning trades.

Your goal isn't to be aggressive. Your goal is to stay in the game long enough for your edge to play out.

Protect your drawdown, manage your risk, and give yourself enough room to recover from losing streaks.

Most traders fail because they size up when they should size down.

You're welcome...... 🥂

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@charlesthefirst - 4 months ago

A Step by Step guide to becoming a profitable Trader 👇

✅First step, Learn before you think about earning from trading 🤝

✅Focus on one Trading system , You can learn multiple Concepts but you only need one trading system to succeed so Stop jumping from one Trading system to another.

✅Have a Trading plan and Make sure to include your risk management Plan in it. You will encounter losses no matter how good you think your trading system is, so Learn to manage your risk at all times

✅Journal and collect Data on your all your trades (both wins and loses)

✅Struggling with little capital? 👇compound profit with your small capital and grow it with time or Trade Prop firms , when you scale up you can Fund your personal accounts with profit made from prop firms.

✅reinvest your profit into other businesses or into trading (read books or watch Documentaries on money management )

✅keep learning and refining your Edge (don't stop learning, Stop learning and you Fade)

As easy as these steps may look, If you are not Patient enough to understand that this is a long term Journey, you will be stuck at the first Stage (looking for Strategies that will profit to invest over night).

Did i miss any other important tip? Drop it in the comment section

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@justme_ - 4 months ago

Quoted - investorgeo

Trading is actually not that hard.

My trades basically comprise of 4 things

1. Structure

2. Orderflow

3. Liquidity

4. Entry.